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Fed Minutes: Tuesday's Headlines

Minutes from the Federal Reserve's March 16 policy meeting will be in focus Tuesday



) -- Here are the top stock market headlines for the morning of Tuesday, April 6, 2010.

Tuesday's Early Headlines

  • Fed Minutes Scheduled for Release Tuesday -- The Federal Reserve will release minutes from its March 16 meeting at 2 p.m. EDT. At that meeting, the central bank's policy-making arm reiterated its intention to keep interest rates "exceptionally low" for an "extended period" of time.
  • Massey Energy Mine Explosion Kills 25 -- A fatal explosion Monday afternoon at an underground coal mine owned by Massey Energy (MEE) killed 25. Safety officials say chances are slim of finding four other workers alive. The blast at the West Virginia coalmine is the worst U.S. mine disaster in more than two decades, according to reports. Massey Energy shares were falling sharply in premarket trading.
  • Citigroup Execs to Face Financial Crisis Inquiry Panel -- Former Citigroup (C) - Get Citigroup Inc. Report executives, including former CEO Chuck Prince and former Chairman Robert Rubin, will appear before the Financial Crisis Inquiry Commission to face questioning over the bank's role in spreading trillions of dollars in risky mortgage debt through the banking system. The hearings on Wednesday and Thursday will examine Citigroup's role in financing, packaging and selling risky mortgage loans, The Associated Press reports.
  • AT&T to Spend $1 Billion to Upgrade Network -- AT&T (T) - Get AT&T Inc. Report plans to invest about $1 billion in 2010 to expand its network around the world, boost its services for global companies and expand its services to small businesses in the U.S.
  • Australia Hikes Key Interest Rate Again -- The Reserve Bank of Australia once again upped the benchmark overnight cash rate target to 4.25% from 4%, signaling that more increases could be in the cards. "The Board judges that with growth likely to be around trend and inflation close to target over the coming year, it is appropriate for interest rates to be closer to average," Reserve Bank of Australia Governor Glenn Stevens said in an accompanying statement. "Today's decision is a further step in that process."

-- Written by Robert Holmes in Boston

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